Shares of the Chinese internet-search firm Baidu rose 5% after it topped Wall Street estimates and revealed its plan to list its Netflix-like video-streaming platform on a US exchange.

The company said it submitted draft registration documents to the US Securities and Exchange Commission with plans to list its popular iQiyi video platform on a US exchange. It did not indicate the size of the initial public offering although it said it plans to remain a controlling shareholder of the company after the IPO. The value of the platform could be worth over $8 billion, according to Reuters.

A US listing would help shore up its financial muscle against Tencent Holdings and Alibaba, rivals which have lots of cash to spend to compete in online video content. The IPO would also become a new driver of revenue growth for Baidu, and offset risky bets made in autonomous driving.